03 May 2023, Mumbai
EUROSTAT has released data on EU clothing imports for January-February 2023, which reveals a decline of 2.03% in value and 10.09% in quantity compared to the same period in 2022.
China and Turkey, the top apparel import sources, experienced declines of 13.11% and 11% respectively. Bangladesh, the second largest apparel import source after China, increased imports by 5.47% in value but saw a decline of 3.02% in quantity.
India, Vietnam, and Pakistan showed positive growth while other countries including Turkey experienced a decline.
The growth seen in Bangladesh is attributed to the inflated prices of raw materials and production costs, but the export volume has declined.
CREDITS: BGMEA Press Release.
